Elon Musk Reclaimed the Title 'World's Richest Person'

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The most recent information from the Bloomberg Billionaires Index on Thursday shows that Elon Musk is once again the richest person in the world.

According to figures from Eikon, the CEO of Tesla saw his wealth rise by 40.3% this year, to $192 billion. This is because shares of the company that makes electric cars went up by about 24% in May. FactSet shows that Musk owns about 13% of Tesla.

In December, LVMH CEO Bernard Arnault pushed Musk out of first place because Tesla shares fell after he bought Twitter for $44 billion. Most of Musk’s money comes from his stock in Tesla.

He is also the CEO of SpaceX, which makes rockets, and the owner of Twitter, which is a social media company.

Musk left Shanghai on Thursday after a two-day visit that got a lot of attention. While he was in China, he met with Chinese leaders, including Foreign Minister Qin Gang. Analysts say that the visit, which happened as relations between the U.S. and China were rising, showed that China is an important market for Tesla.

During the visit, Qin tried to reassure Musk that China is open to foreign companies and will continue to treat them well. Musk is also said to have hinted at more growth in China.

Wednesday, Tesla stock finished up 1.38 per cent at $203.93.

In November, Tesla’s share price fell to $167.87, which was the lowest it had been since November 2020. It was partly because more people sold their stocks after Musk bought Twitter.

Bloomberg data shows that LVMH’s Arnault is now the second richest person in the world, after Musk, with $187 billion. He is followed by Jeff Bezos, the founder of Amazon, who is also worth a billion dollars.